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Below is an Interesting article I found, which says that.....Do not * I5 t' h! R: m. e5 [9 P r" R' @
expect much from Crude Oil producers and future is not with the
1 s1 W. |- L: X' Y" P; Pcompanies producing Jet fuels but Biofuels. Also no wonder if some of
- c! |3 O# o5 o# zthese oil producer will go bankrupt or out of the business even if ; g* ?( P5 `+ t8 Y
crude prices improves. This implies also to good names such as Shell,
# M# G% V( u. \! l0 d; A8 k: `4 pEXXON, BG, BP, Cheveron ....xyz.. oils 3 |/ H6 B+ J3 ~: v- b
, \+ K; s! D/ pRecently OPEC reduced crude oil production twice over just a few + z& A1 \2 s' A7 C4 P
months. There are three wars going on in Gaza, Iraq and Afghandistan. 9 _- ?) h Q3 C8 e9 G
A year ago these things would have spiked the price of crude oil by at 4 N% p0 w6 N* J. k5 G4 k* U
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face & g' _' x6 W1 h" x$ `
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and & O) @1 v0 Z5 c! F, ?' |' U
in the ocean near Brazil. Each of these oil fields has more oil than 6 n/ F. y1 i3 N; c, ^+ n! H5 l _
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
: z8 S4 J6 d" e' V+ O8 B6 fThis is the largest find in North America. , z' Q% N: `4 y' c& |! ~
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1 i- v# g$ A& [; v s3. New methods of injecting CO2 and surfactants into oil wells is 3 l4 U% y6 R4 O' m& n
being used to double their output.
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. Y1 M0 v3 E) f% T: Y w6 ]/ G' `4. Production of bio-fuels is beginning to reach critical mass. Bio ( T4 C" a$ X# r' |9 E
fuel is being produced from many plants and algae. The production ! B+ H# N- S: [
potential per acre in some cases is astounding. Many countries are
8 N; ~- b$ z j! y' a. B7 x5 aracing to produce bio fuels.
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+ ?- f7 W8 V, c% S r, p5. Virtually every restaurant in the US and all food processing plants , h/ R8 l+ o" H) N; J
are now selling their used oil to bio-diesel producers. Every pork, : d$ `% q6 T0 t! X; o5 y. h
cattle, turkey and chicken processing plant will soon sell their fat 9 l" e& c7 m: T, B7 S6 i) y8 Q+ U
to bio-diesel producers. One pork processing plant in Oklahoma is
5 R, _2 _9 G: {; `$ K0 P4 d7 Sproducing 30,000 gallons of bio-diesel per day from pork fat.
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6. There are 99 nuclear reactors in various stages of planning and
+ k4 [9 {. h0 ~& f9 Nconstruction around the world at this time. Several hundred more are + t- B( B/ |! @. w
expected to be built in the future. Much of the energy they produce
; d4 I$ O7 e8 G" `4 gwill replace oil.
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0 V4 \6 s" H: O. W( y ?0 ]7. Every company in any form of transportaion business is replacing
5 H3 U; S1 h# o% M( Dolder equipment such as trucks, airplanes, train engines, ships, etc.
# `8 q) y7 g2 A* _% Wwith new more fuel efficient equipment. Airlines and railway companies / J7 D* `$ ~- u
are experiencing 20% to 25% better fuel econony with the new
7 G3 o9 B! b# D0 i9 d. Zequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 8 E4 G. \) {9 {/ v& o2 i4 t
fuel is cleaner and performs better than jet fuel. ) {6 A/ k7 ~7 \9 G! s" _
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* U3 v# n. s+ a$ F8. Cities and counties throughout the US are selling the rights to 1 Q) U; Y9 ], l ~; k/ f7 H
capture methane gas from landfills. This is a huge source of gas # E- n2 b6 C/ T2 V/ n% s
available at very little cost or risk. The gas is displacing crude
1 }; o3 \4 y7 k! }oil. 8 m4 T4 b4 x+ R6 f: k) m9 o- f6 p
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" `) k: y$ W2 p9 f( Y0 y9. Coal is being transformed into a clean burning liquid fuel. The CO2 t$ j4 C- `$ d6 f* [8 F
produced as a byproduct is sold to oil companies for injection into
, Y; [" j6 F( R# Doil wells.
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+ a0 |0 |6 B( S+ h0 _10. Solar, wind and ocean energy is displacing oil as an energy
. w7 R. _- l; l/ Ksource. Three new wind turbines are being erected every day in the US.
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0 c6 o0 d9 J+ I8 lEach of the above by itself will not make a large difference in the , d! A7 ?9 [5 l7 @
price of crude oil but the sum of all of them together is world
8 ~1 j, }9 c) z. H; Y7 ]! n7 Ochanging. The important thing is that OPEC no longer has the ability 3 }6 G! k% U/ p
to control oil prices. " q- [& c+ O( a! |7 t5 [
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With the above scenario, I still believe that there are under
( C" \( V( C0 o. U& ~; G& Uperformed OIL companies and probably they are yet to get the justified , ?( M) b# W! I" O3 X6 X5 B# X5 {
value .....
. ^1 n s5 [4 EIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 6 z3 [% n9 ^6 R! Z
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN 8 L9 D& y: N8 b& ~1 @! p
2009 ... FYI-Only |
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发表于 2009-1-13 18:58
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